FBR Balanced is going to be merged with hennessay balanced fund???

ducrow

i just received a notice from fbr funds that all of their funds will be merged to hennessay funds. i own fobax, and it says it will be taken over by hennessay balanced fund. if this is true i will dump the fund and maybe buy wbmrx that scott has mentioned. hennessay balanced is a very, very bad fund. high expenses.lousey performance. does anyone else have any information regarding this?

scott

Unfortunately, it looks like Hennessy bought FBR. Not all of the funds are being merged.

http://www.fa-mag.com/fa-news/11228-hennessy-advisors-inc-to-acquire-fbr-funds-.html

barakf81

What does FOBAX have to do with FBR funds - do you mean AFSAX?

ducrow

barakf81 - you are correct it is afsax - sorry for the mistake

David_Snowball

All of the FBR funds were acquired by Hennessey, but only three of them are being merged. Balanced was not, when last I looked, going to be merged.

For what interest it holds, there's a discussion of the mergers, and a guess about who wins, in my July column.

For what it's worth,

David